The joint venture between NNPC Exploration and Production Limited (NEPL) and Seplat Energy has commissioned two new Science, Technology, Engineering, Arts and Mathematics (STEAM) laboratories in secondary schools in Edo State, reinforcing its push for sustainable education. The facilities, located at Ogbe and Uselu Secondary Schools in Oredo and Ikpoba Okha local government areas, were unveiled in Benin City with the aim of promoting practical learning and academic excellence. Speaking at the event, Chioma Afe, Director of External Affairs and Social Performance at Seplat Energy, said the JV has now delivered nine STEAM labs in Edo State, bringing the total…
Author: Elvis Eromosele
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says sweeping reforms in Nigeria’s oil and gas sector have unlocked more than $10 billion in new upstream investment. Oritsemeyiwa Eyesan, Chief Executive, disclosed this at the 2026 Oloibiri Lecture Series and Energy Forum in Abuja, noting that clearer rules and faster processes are restoring investor confidence. Eyesan said the reforms, developed with operators, service providers, and investors, have reduced regulatory ambiguity by introducing defined timelines and transparent processes. According to her, this shift has made Nigeria’s upstream environment more predictable, enabling partners to commit to multi-billion-dollar Final Investment Decisions (FIDs). The commission…
The Federal Government of Nigeria has inaugurated a high-level monitoring committee to tackle persistent gas supply bottlenecks crippling electricity generation across the country. Adebayo Adelabu, Minister of Power, described the move as a decisive intervention to address Nigeria’s long-standing electricity deficit, noting that inefficiencies in gas supply remain one of the biggest constraints in the Nigerian Electricity Supply Industry (NESI). Gas-fired plants account for about 80 per cent of Nigeria’s power generation, yet the sector continues to struggle with supply disruptions, pipeline vandalism, and mounting debts owed to gas producers. Adelabu said the committee’s inauguration signals a clear shift from…
The Nigerian National Petroleum Company Limited (NNPC Ltd) is turning to artificial intelligence and “digital mining” of legacy data to achieve its ambitious target of 3 million barrels per day (bpd) crude production by 2030. Bayo Ojulari, Group Chief Executive Officer, disclosed the strategy at the 2026 Oloibiri Lecture and Energy Forum in Abuja, noting that adopting AI is now critical for competitiveness in the global oil industry. He was represented by the company’s upstream executive vice-president, Udobong Ntia. NNPC said Nigeria holds vast volumes of underutilised data dating back to its first commercial oil discovery in 1956. Much of…
The United States Department of State has raised fresh security concerns in Nigeria, authorising the departure of non-emergency personnel and their families from Abuja over heightened risks of terrorist attacks. The move effectively places the US Embassy on partial evacuation status and comes alongside an updated travel advisory that designates 23 states across Nigeria as high-risk for American citizens. According to the advisory, terrorists may be planning attacks on a wide range of targets, including government buildings, places of worship, schools, shopping centres, hotels, and transport hubs. Officials warned that such attacks could occur with little or no warning. The…
Okomu Oil Palm Company has posted a strong financial performance for 2025, with profit before tax rising by 69.26 per cent to N90.6 billion, up from N53.5 billion in 2024. The company’s audited results show revenue surged by 52.18 per cent year-on-year to N198.1 billion, driven by robust earnings across its palm oil, rubber, and processing operations. Of the total revenue, N172.6 billion was generated within Nigeria, while export sales contributed N25.5 billion. Reflecting the strong performance, the company declared a final dividend of N15 per 50 kobo share, payable on May 26, 2026, to shareholders on record as of…
Nollywood star Bimbo Ademoye has scored another major digital success, as her latest film Mirrors and Reflections racked up 7.1 million views on YouTube within four days of release. The psychological family drama, which premiered on April 3, 2026, on her official channel, Bimbo Ademoye TV, surged past 5.3 million organic views in under 72 hours, outperforming early projections and quickly gaining traction among viewers. In the film, Ademoye delivers a standout performance in a dual role, supported by a strong cast including Sonia Uche, Clinton Joshua, Shine Roseman, and Osas Ighodaro. The story explores themes of identity, hidden family…
U.S. President Donald Trump has announced a sweeping 50 per cent tariff on any country found supplying military weapons to Iran, escalating economic pressure despite a newly agreed ceasefire. Trump disclosed the measure in a post on Truth Social, stating that the tariffs would take immediate effect and apply to all goods exported to the United States, with no exemptions. The announcement came just hours after Washington reached a two-week ceasefire agreement with Tehran, following intense last-minute diplomacy involving Pakistan. According to Trump, the tariff move is aimed at deterring further military support to Iran during ongoing negotiations. “A country…
The Central Bank of Kenya (CBK) has held its benchmark interest rate at 8.75 per cent, pausing a nearly two-year easing cycle as it monitors rising global risks linked to tensions in the Middle East. CBK Governor Kamau Thugge announced the decision after the Monetary Policy Committee (MPC) meeting on Wednesday, citing the need to assess the economic impact of the ongoing Iran conflict. The move is also aimed at keeping inflation within the bank’s target range of 2.5 per cent to 7.5 per cent while maintaining exchange rate stability. Headline inflation edged up slightly to 4.4 per cent in…
The Federal Government has inaugurated a new governing board for the Nigeria Commodity Exchange (NCX), in a renewed push to strengthen commodity trading and boost non-oil exports. The inauguration, held in Abuja, marks the beginning of a new leadership phase aimed at repositioning the Exchange for improved performance and global competitiveness. Confirming the development, Jumoke Oduwole, the Minister of Industry, Trade and Investment, said the board will provide the strategic direction required to fully operationalise the Exchange and deepen its impact on the economy. She described the NCX as a critical driver of price discovery, market transparency, and the expansion…